Etymology
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settlement (n.)

1620s, "act of fixing or steadying;" from settle (v.) + -ment. Meaning "a colony," especially a new one, "tract of country newly developed" is attested from 1690s; that of "small village on the frontier" is from 1827, American English. Sense of "payment of an account" is from 1729; legal sense "a settling of arrangements" (of divorce, property transfer, etc.) is from 1670s.

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Definitions of settlement

settlement (n.)
a body of people who settle far from home but maintain ties with their homeland; inhabitants remain nationals of their home state but are not literally under the home state's system of government;
Synonyms: colony
settlement (n.)
a community of people smaller than a town;
Synonyms: village / small town
settlement (n.)
a conclusive resolution of a matter and disposition of it;
settlement (n.)
the act of colonizing; the establishment of colonies;
settlement (n.)
something settled or resolved; the outcome of decision making;
they finally reached a settlement with the union
Synonyms: resolution / closure
settlement (n.)
an area where a group of families live together;
settlement (n.)
termination of a business operation by using its assets to discharge its liabilities;
Synonyms: liquidation
From wordnet.princeton.edu